Nazia is a vigorous lady. She is a seamstress who runs her business from her home to financially support her family. She started this work because her husband’s income was not enough to meet expenses. She sews clothes for her neighboring clients, charging them between 100-150 PKR. Her customers feel comfortable with this amount and order her clothes regularly. She is perfect in her measurements, uses good designs and gives her clothes a new look.
Nazia’s husband is a rickshaw driver named M. A.. Unfortunately, his rickshaw’s engine is presently not working properly. Therefore, she has applied for a loan from Asasah for her husband so that he can repair his rickshaw. Nazia hopes that with this loan her husband will able to make this repair properly and so continue in his work without further stress.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid